By FXEmpire.com
The USD/CAD pair continues to bounce around in the consolidation box that it has been stuck in for a few months now. The pair did manage to break above the parity level for a while, but at the end of the week we found ourselves at the 0.9999 level. The candle for the week looks like a massive doji, and as such we see this as a possible decision candle. The breaking of the bottom of the candle would send us down to look for 0.98 again, and the breaking of the top will have the market trying to break out above the 1.01 level. If we break above the 1.01 level, we would be willing to buy at that point. However, we don’t consider the market as a buy until we get that.
Click here a current USD/CAD Chart.
Originally posted here
